Brake Pad Market Report: Trends, Forecast and Competitive Analysis to 2030

Brake Pad Trends and Forecast

The future of the global brake pad market looks promising with opportunities in the original equipment manufacturer (OEM) and aftermarket markets. The global brake pad market is expected to reach an estimated $25.4 billion by 2030 with a CAGR of 7.0% from 2024 to 2030. The major drivers for this market are rising need for high-tech, lightweight friction materials, increased car sales and production, the incorporation of cutting-edge technologies, and the growing demand for environmentally friendly vehicles.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Brake Pad by Segment

The study includes a forecast for the global brake pad by vehicle, material, position, sale channel, and region.

Brake Pad Market by Vehicle [Shipment Analysis by Value from 2018 to 2030]:

• PCV (Passenger Cars & Vans)
• LCV (Light Commercial Vehicles)
• HCV (Heavy Commercial Vehicles)
• Two-Wheelers

Brake Pad Market by Material [Shipment Analysis by Value from 2018 to 2030]:

• Semi-Metallic
• Non-Asbestos Organic (NAO)
• Low-Metallic NAO
• Ceramic

Brake Pad Market by Position [Shipment Analysis by Value from 2018 to 2030]:

• Front
• Front & Rear

Brake Pad Market by Sale Channel [Shipment Analysis by Value from 2018 to 2030]:

• Original Equipment Manufacturer (OEM)
• Aftermarket

Brake Pad Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Brake Pad Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies brake pad companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the brake pad companies profiled in this report include-

• Wilwood Engineering
• A.T.E. Private
• Brembo
• EBC Brakes
• ICER BRAKES
• Nisshinbo
• J. Wagner
• Showa Denko Materials
• Hawk Performance
• Hunan BoYun Automobile Brake Materials

Brake Pad Market Insights

Lucintel forecasts that PCV (passenger cars and vans) is expected to witness the highest growth over the forecast period due to growing demand for fuel-efficient vehicles, as well as, improvement in sales and production of vehicles globally.

APAC is expected to witness highest growth over the forecast period due to increased vehicle sales, the creation of new brake pad manufacturing businesses, an expansion of the fleet, a spike in the production of passenger cars, and an increase in the disposable income of individuals from the region's emerging nations.

Features of the Global Brake Pad Market

Market Size Estimates: Brake pad market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Brake pad market size by vehicle, material, position, sale channel, and region in terms of value ($B).

Regional Analysis: Brake pad market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different vehicle, material, position, sale channel, and regions for the brake pad market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the brake pad market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the brake pad market size?

Answer: The global brake pad market is expected to reach an estimated $25.4 billion by 2030.

Q2. What is the growth forecast for brake pad market?

Answer: The global brake pad market is expected to grow with a CAGR of 7.0% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the brake pad market?

Answer: The major drivers for this market are rising need for high-tech, lightweight friction materials, increased car sales and production, the incorporation of cutting-edge technologies, and the growing demand for environmentally friendly vehicles.

Q4. What are the major segments for brake pad market?

Answer: The future of the global brake pad market looks promising with opportunities in the original equipment manufacturer (OEM) and aftermarket markets.

Q5. Who are the key brake pad market companies?

Answer: Some of the key brake pad companies are as follows:

• Wilwood Engineering
• A.T.E. Private
• Brembo
• EBC Brakes
• ICER BRAKES
• Nisshinbo
• J. Wagner
• Showa Denko Materials
• Hawk Performance
• Hunan BoYun Automobile Brake Materials

Q6. Which brake pad market segment will be the largest in future?

Answer: Lucintel forecasts that PCV (passenger cars and vans) is expected to witness the highest growth over the forecast period due to growing demand for fuel-efficient vehicles, as well as, improvement in sales and production of vehicles globally.

Q7. In brake pad market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to increased vehicle sales, the creation of new brake pad manufacturing businesses, an expansion of the fleet, a spike in the production of passenger cars, and an increase in the disposable income of individuals from the region's emerging nations.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the brake pad market by vehicle (PCV (passenger cars & vans), LCV (light commercial vehicles), HCV (heavy commercial vehicles), and two-wheelers), material (semi-metallic, non-asbestos organic (NAO), low-metallic NAO, and ceramic), position (front and front & rear), sale channel (original equipment manufacturer (OEM) and aftermarket), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?